Norges Bank Purchases Shares of 520,810 IDEAYA Biosciences, Inc. (NASDAQ:IDYA)

Norges Bank acquired a new position in shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 520,810 shares of the company’s stock, valued at approximately $13,385,000. Norges Bank owned 0.60% of IDEAYA Biosciences as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. R Squared Ltd purchased a new position in shares of IDEAYA Biosciences in the fourth quarter valued at $35,000. Daiwa Securities Group Inc. raised its position in shares of IDEAYA Biosciences by 44.0% during the 4th quarter. Daiwa Securities Group Inc. now owns 2,792 shares of the company’s stock valued at $72,000 after acquiring an additional 853 shares in the last quarter. KBC Group NV lifted its stake in IDEAYA Biosciences by 84.6% during the fourth quarter. KBC Group NV now owns 4,197 shares of the company’s stock worth $108,000 after purchasing an additional 1,923 shares during the last quarter. XTX Topco Ltd acquired a new position in IDEAYA Biosciences in the third quarter worth $245,000. Finally, Verition Fund Management LLC bought a new stake in IDEAYA Biosciences during the third quarter valued at $246,000. 98.29% of the stock is owned by hedge funds and other institutional investors.

IDEAYA Biosciences Stock Up 2.9 %

IDYA stock opened at $15.14 on Tuesday. The company has a market capitalization of $1.33 billion, a P/E ratio of -4.59 and a beta of 0.51. The company has a 50-day simple moving average of $19.87 and a 200 day simple moving average of $24.90. IDEAYA Biosciences, Inc. has a fifty-two week low of $13.80 and a fifty-two week high of $44.42.

IDEAYA Biosciences (NASDAQ:IDYA) last posted its quarterly earnings data on Thursday, February 13th. The company reported ($1.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.67) by ($0.82). The firm had revenue of $7.00 million for the quarter, compared to analyst estimates of $7.00 million. Equities analysts anticipate that IDEAYA Biosciences, Inc. will post -3.07 EPS for the current year.

Analysts Set New Price Targets

IDYA has been the topic of a number of recent research reports. Royal Bank of Canada restated an “outperform” rating and issued a $61.00 price target on shares of IDEAYA Biosciences in a research report on Wednesday, January 15th. Wedbush reissued an “outperform” rating and issued a $52.00 target price on shares of IDEAYA Biosciences in a report on Tuesday, December 17th. Stephens reaffirmed an “overweight” rating and set a $50.00 target price on shares of IDEAYA Biosciences in a report on Friday, February 14th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of IDEAYA Biosciences in a report on Monday, January 13th. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.58.

IDEAYA Biosciences Profile

IDEAYA Biosciences, Inc, a synthetic lethality-focused precision medicine oncology company, discovers and develops targeted therapeutics for patient populations selected using molecular diagnostics in the United States. The company's products in development include IDE196, a protein kinase C inhibitor that is in Phase 2/3 clinical trials for genetically defined cancers having GNAQ or GNA11 gene mutations; IDE397, a methionine adenosyltransferase 2a inhibitor that is in Phase 1/2 clinical trials for patients with solid tumors having methylthioadenosine phosphorylase gene deletions, such as non-small cell lung, bladder, gastric, and esophageal cancers; IDE161, a poly ADP-ribose glycohydrolase inhibitor that is in Phase 1 clinical trial to treat tumors with homologous recombination deficiency (HRD), and other genetic or molecular signatures; GSK101, a Pol Theta Helicase inhibitor that is in Phase 1 clinical trial for the treatment of tumors with BRCA or other homologous recombination, and HRD mutations; and Werner Helicase inhibitors for tumors with high microsatellite instability.